"The curious task of economics is to demonstrate to men how little they really know about what they imagine they can design."--F.A. Hayek

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24 September 2008

What's $25,000,000,000 between friends

In the glow of our government giving away $700,000,000,000 of money that doesn't belong to it to fix things that it doesn't have the knowledge, ability or authority to "fix" one could be excused if he missed this little doozy.$25,000,000,000 in "loans" to the US auto industry to help them deal with the fact that they're pretty bad at making cars efficiently that people want to drive.President Dipshit said tonight (or at least he stammered the words someone else put on the teleprompter for him):

"I’m a strong believer in free enterprise. So my natural instinct is tooppose government intervention. I believe companies that make baddecisions should be allowed to go out of business."

Then why is he about to sign this bill doing the exact opposite of what he just said? Is he a liar, a bad businessman, a bad president, a bad economist? Or does he fail to grasp that "lending" companies federal funds rewards bad business decisions and encourages corporate ineptitude (or malfeasance, depending on your viewpoint--the net result is the same). The biggest conundrum of history regarding this administration will be figuring out what it sucked at least. There won't be many candidates.I will be adding my much anticipated two cents regarding the $700,000,000,000 clusterfuck anon.First, I must participate in the 2008 MS City to Shore ride this weekend.

UPDATE: What evidence is there that Bush is a free-market guy? He imposed steel tariffs as an election year sop that hurt the majority of Americans and got the US hit with sanctions from the WTO; he also just signed the frickin' farm bill, which is about as anti-free market as you can get. He has supported sugar tariffs on imports and subsidies for domestic producers. Even in the area where he is supposed to be strongest, this guy is a disaster.